https://www.taxtmi.com/caselaws?id=98579 A fiduciary must not profit from a position of trust, but the burden is discharged where the transaction is shown to be fair, open and free from undue influence; on the facts, no abuse of fiduciary position was established. A claim to recover company assets was also held time-barred, because the cause of action arose when the property was transferred and limitation could not be avoided by recasting the claim as possession or reconveyance. On dissolution, shareholders of the extinct company had no standing to sue for its assets, since the property vested in the Government by escheat or bona vacantia absent a statutory vesting provision. en-us Fri, 20 Dec 1968 00:00:00 +0530 Tue, 11 Nov 2014 15:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98579 A fiduciary must not profit from a position of trust, but the burden is discharged where the transaction is shown to be fair, open and free from undue influence; on the facts, no abuse of fiduciary position was established. A claim to recover company assets was also held time-barred, because the cause of action arose when the property was transferred and limitation could not be avoided by recasting the claim as possession or reconveyance. On dissolution, shareholders of the extinct company had no standing to sue for its assets, since the property vested in the Government by escheat or bona vacantia absent a statutory vesting provision. Case-Laws Companies Law Fri, 20 Dec 1968 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98579